What Is Wholesale Real Estate In Houston?
Considering an investment? If you go with real estate, there are dozens of ways to go about it. You can invest in a REIT, buy property shares of a home, own a home directly, etc. Here’s the thing – wholesale real estate in Houston is a great way to get into the business, but one that is often overlooked.
If you don’t have a lot of cash, but you want to be a real estate investor, wholesaling might be the way to go. In exchange for rewards that could potentially be high, you need to be able to accept that there’s some risk involved and the time you need to put in.
Wholesale Real Estate – What Is It?
When a real estate investor puts a property (possibly distressed) under contract and then, to another investor, transfers it or assigns it, that is wholesale real estate. Property owners who truly want to sell are the kinds of people real estate wholesalers like to deal with. These could be any of the following:
- Couples who are divorcing and want to get the property settlement over with quickly
- People with property where numerous repairs are needed
- Owners of an inherited but neglected property
- People who are in danger of having their home foreclosed on… and others
What Wholesalers Need to Do In a Limited Amount of Time
A successful wholesaler, in a short period of time, will do the following:
- They find people who own but want to sell property and, compared to what it’s worth, they’re willing to settle for considerably less.
- The wholesaler must then perform estimates regarding any updating needed and the number of repairs required.
- To assign the contract to someone else, the wholesaler must then find an investor. This will be someone who has the expertise and money required to turn a profit after making any repairs needed.
If an investor is willing to pay a fee to a wholesaler and take over the purchase contract – with the right opportunities – they could take advantage of a great opportunity. Even after all the updating and repairs have been done, the property could have instant equity in the right situation.
The Key Points of Wholesaling Real Estate
By receiving a wholesale fee when a deal closes escrow or contract is assigned, wholesalers make their money. Wholesale real estate offers the opportunity, over short periods of time, to generate large profits. To get started, it requires little cash because possession of the property is not taken by the wholesaler.
When distressed properties are owned by motivated sellers, and located by real estate wholesalers, the homes can be put under contract. Then, to another real estate investor, that contract is assigned. Those are the basics.
Looking for Wholesale Real Estate in the Houston Area?
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Our specialists are dedicated to not only working closely with you but understanding your precise needs. Only then can we curate and deliver you a complete collection of off market properties. If you’d like more information, you can email us at email@example.com or talk to a representative by calling us at 866-210-8835.